Terms of directors generally
(1) A corporations articles of incorporation or bylaws may specify the terms of directors. Except for designated directors or appointed directors, the terms of directors may not exceed five years. In the absence of any term specified in the articles of incorporation or bylaws, the term of each director is one year. Directors may be elected for successive terms.
(2) A decrease in the number of directors or term of office does not shorten an incumbent directors term.
(3) Except as provided in the articles of incorporation or bylaws:
(a) The term of a director filling a vacancy in the office of an elected director expires at the next election of directors; and
(b) The term of a director filling any other vacancy expires at the end of the unexpired term that the director is filling.
(4) Despite the expiration of a directors term, the director continues to serve until the directors successor is elected, designated or appointed and qualifies, or until there is a decrease in the number of directors. [1989 c.1010 §74; 2019 c.174 §53]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information